Home › Bihar Board Class 12 (Commerce) › Accountancy › Accounts from Incomplete Records › Which is an advantage of single entry bookkeeping?
Which is an advantage of single entry bookkeeping?
AExact profit is known
BA trial balance is possible
CFraud is easily detected
DIt is a simple method
Answer & Solution
Correct answer: D. It is a simple method
Single entry is very simple to maintain, which is why small traders use it.
Related questions
Under single entry, information is mostly collected from the:Under single entry, some transactions are even:The Kohler definition describes single entry as always being:Under the statement of affairs method, closing stock is found from:A single-entry system is not self-balancing, so arithmetic errors are:Single-entry systems are popular with small businesses because of their:Bills payable of Rs 3,000 were pending; Rs 9,000 more were accepted and Rs 2,000 remain. PA firm held Rs 5,000 of bills receivable, got Rs 12,000 more and holds Rs 4,000 at year en